News

Axiata Announces Exit of Group Chief Financial Officer

2010-08-26

Axiata Announces Exit of Group Chief Financial Officer

Kuala Lumpur, 26 August 2010— After five years with the Group, the first three of which was with TM International Berhad (TMI) prior to de-merger, the Group's Executive Director and Group Chief Financial Officer, Dato' Yusof Annuar Yaacob will be leaving the Group at the end of November 2010. Dato' Yusof will be joining Goldman Sachs as the Managing Director, Chairman Goldman Sachs Corporate Finance Malaysia.

Dato' Sri Jamaludin Ibrahim, President & Group Chief Executive Officer of Axiata said “Dato' Yusof brought great financial and operational expertise with a deep understanding of the Group and its operations. Under him, the finance team have accomplished a great deal over the past 2 years. The team is strong and has an excellent record of building value for our shareholders”.

Dato' Yusof was instrumental in the growth of TMI, then a division within Telekom Malaysia Berhad, before the de-merger and later in the consolidation of TMI with Celcom during the de-merger.

”He was a key person who provided the valuable transition for the Group and for me personally when I first joined the Group. He was also instrumental in strengthening the Group's balance sheet over the last two years. He was more than just a CFO, and assisted me in many areas outside finance, including strategy, human resource decisions and operational management of the OpCos (operating companies). He is quite a unique CFO!” added Dato' Sri Jamaludin.

Dato' Yusof Annuar Yaacob said “My time at Axiata has been an excellent one, and I am very pleased to be leaving the company in such great shape. We have built a world-class finance team, with Axiata emerging out of the economic downturn not only with great momentum but also strong discipline and focus on driving shareholder value.”

“Whilst we are sad to see Dato' Yusof go, we are proud that one of our own people has been given this prominent role with a premier global investment bank“ concluded Dato' Sri Jamaludin.

Axiata Chairman, Tan Sri Dato' Azman Hj. Mokhtar said “Being an integral part of the team, we will miss Dato' Yusof and we wish him well. I am looking forward to a smooth transition that continues our commitment to shareholder value”.

Dato' Yusof's replacement will be announced in due course.

About Axiata

Axiata is one of the largest Asian telecommunication companies, focused on high growth low penetration emerging markets. Axiata has controlling interests in mobile operators in Malaysia, Indonesia, Sri Lanka, Bangladesh and Cambodia with significant strategic stakes in India, Singapore and Iran. India and Indonesia are amongst the fastest growing markets in the world. In addition, the Malaysian-grown holding company has stakes in non-mobile telecommunication operations in Thailand and Pakistan.

The Group's mobile subsidiaries and associates operate under the brand name ‘Celcom' in Malaysia, ‘XL' in Indonesia, ‘Dialog' in Sri Lanka, ‘Robi' in Bangladesh, ‘HELLO' in Cambodia, ‘Idea' in India, ‘M1' in Singapore and ‘MTCE' in Iran (Esfahan).

The Group's, including its subsidiaries and associates, has over 130 million mobile subscribers in Asia. The Group revenue for 2009 was RM13.1 billion. The Group provides employment to over 25,000 people across Asia. Axiata's vision is to be a regional champion by 2015 by piecing together the best throughout the region in connectivity, technology and talent, uniting them towards a single goal: Advancing Asia.

Axiata was awarded the Frost & Sullivan 2009 and 2010 Asia Pacific ICT Award for Best Telecom Group and the Telecom Asia Best Regional Mobile Group 2010 for its operations in multiple Asian markets.